Making his first financial results announcement since becoming Perpetual’s Chief Executive Officer and Managing Director in September 2018, Rob Adams said, “It has been a challenging time for the industry following the outcomes of the Royal Commission and the volatile market environment. Our fund flows have been affected by this environment as has our relative investment performance.
“Despite the headwinds experienced in the first half of the year, we maintained our discipline around cost management and continued to invest in the business and our people to support future growth.
"Perpetual is one of the strongest brands in financial services and has been for over 130 years. Particularly during challenging and changing times for the sector, we have the opportunity to leverage this strength to drive more consistent, quality growth across all three of our businesses.
“To grow, we need to change. Hence, we are accelerating our efforts to strategically expand our capabilities and better harness the strength of our brand and client relationships. We recognise the impact various geopolitical and macro influences are having on the industry and our business, however we also see significant opportunities arising from this,” Mr Adams said.
Visit our Shareholder Centre for the complete 1H19 financial results information.